3650 REIT Provides $50M Mid-Construction Recap for 1 Park Row
Circle F Capital received $50 million in financing to complete construction and upgrades to 1 Park Row, a 24-story luxury condo in New York.
Source: commercialobserver.com
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Midas Hospitality Buys Distressed Brooklyn Hotel From Abraham Leifer
St. Louis-based Midas Hospitality is buying a Downtown Brooklyn hotel at 291 Livingston Street out of bankruptcy for $35 million.
Source: commercialobserver.com
Never Retiring - Los Angeles Business Journal
Lender Dar Rahimian says it’s not in his nature to sit still.
Source: labusinessjournal.com
Development Is Financeable if You Have Want Lenders Want
Parkview Financial's Brian Lewis on the types of projects and sponsors getting funded today.
Source: multihousingnews.com
Crestline Direct Finance, Summit Capital Funding lend $16M on Lower East Side Condo Building
A partnership between developer Sheryl Hempel and Prosper Property Group has landed a $16 million debt package to complete a planned condominium development on Manhattan’s Lower East Side, Commercial Observer has learned. Crestline Direct Finance and Summit Capital Funding supplied the two-year floating-rate loan for the sponsorship’s six-story, 12-unit condo project at 330 Grand Street. The debt package will refinance an existing $12.35 million construction loan provided by Parkview Financial in late 2020, and also fund the balance of its development and carry costs.
Source: yahoo.com